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CNBC
Oct 9, 2012 4:00am EDT
risk further weakness. >> the euro trades lower as draghi speaks in brussels. the ecb president announces proposals to deal with risks from the banking sector. >> plans to make further proposals for macro policy particularly on vulnerabilities linked to bank funding. >> angela merkel faces a tough reception in greece as protesters take to the streets. >>> and alcoa kicks off what could be subdued u.s. earnings season. third quarter results of the s&p 500 are expected to drop overall snapping 11 quarters of gains. >>> okay. good to have you back. >> good to be back. you were out, i was out, it was -- >> and i was a little worried about what you were up to, so i do admit, i had you followed. and my man, he sent me back this photograph. >> oh, no. >> that is you with the goggles, right? >> yes, that's me with the goggles. >> what's going on? >> that's my sister at the end there. so i was back at my alma mater in virginia for my college reunion. part of that was -- >> to dress up and pretend you played lacrosse. why are you the only one with goggles? >> that's actually a relatively
KCSMMHZ
Oct 4, 2012 2:30pm PDT
, mario draghi, said the bank is ready to help buy eurozone bonds to help troubled eurozone member countries. how did the markets react to the latest developments? our correspondent sent us this report from the frankfurt stock exchange. >> inflation has spiked. it is a surprising development. one that has probably prevented the ecb from lowering rates in the eurozone in this month of october. what is more, mario draghi, the president of the ecb, does not expect inflation to come down significantly until next year. still, though the economy is in recession, perhaps rate cut are still a possibility in the eurozone. nonetheless, the situation irritated the markets. the stock market was not able to do much. it did strengthen the euro. that really went up, probably not least because of the statement also by mario draghi that the ecb would be ready today to start its bond buying program -- if spain does request help from the esm and fulfills the conditions. >> let's take a closer look at the numbers. the dax ended the day 1/4 of 1% down. euro stoxx 50 slowed about the same amount. across
CNBC
Oct 4, 2012 3:00pm EDT
is on that. >> that's a good question. >> rick santelli, i haven't even talked about march you draghi. he had an impact on the markets early on today, didn't he? >> he definitely did. if i look at interest rate complex between the mario draghi influences, the euro rally. we saw interest rates on the safe harbors like ten-year notes move higher. the stocks really grasping in and getting close to triple digits has put the ten-year pretty much at the top of what has been an eight-trading day, 5 1/2 basis point closing range. the boon, which closed a bit ago, is in a 2 1/2 point basis range for seven trading days. it's somewhat amazing. the issue with draghi remains. he moves foreign exchange a lot. they think he has that bazooka. we're not sure if he has the fuse and match to light it. >> steve liesman, let's talk about tomorrow's numbers. we got the adp report out this week. did it give you an indication of what we might hear tomorrow and what are the expectations, how priced this are they in this market here in terms of the jobs numbers? >> well, maria, adp is one of the things that's
WHUT
Oct 4, 2012 7:00am EDT
everybody is expecting from mario draghi today. >> many economists are hoping that the president of the ecp will say something more in his press conference about the forthcoming bond buying program. we know that spain is standing by to ask for a bailout. it is not yet asked for a bailout. but questions remain. how quickly could a bailout tappan expanded ask for a bailout? what conditions would have to be fulfilled if it wanted a bailout? above all, will the ec be bond buying program actually be legal? the german bank believes it's not legal. the ec says it is legal. for the moment there's a stalemate. we know that mario draghi is preparing to go to berlin next month to persuade the germans the bond buying program is legal. >> we will get that decision in 25 minutes. >> yes, 12:45. >> food prices, we should expect a hike? >> yes. world food prices are up once again. still hovering close to the levels that we saw back in 2008 when we saw last food crisis. you and i have talked about food prices this year a lot. the same old story, the severe drought in the united states, the worst in half
WHUT
Oct 25, 2012 7:30am EDT
. draghi launched his defense at the parliament, met with members of the budget and finance committees. and described the plan, buy the bond of spain. some owe pose that course of action. they say it is too close to printing money to repay debt and could cause inflation. germany its the largest contributor to fund supporting euro zone countries and lawmakers are cautious about expanding that support. after the meeting he dressed the bond buying plan is consistent with the ecbs role. >> these actions are fully and foremost in compliance with our mandate of the delivering stability for the whole of the euro area in the medium term. >>> draghi said the meeting was an opportunity to build trust between the ecb and german public. >>> the company says it has won state guarantees on loans of up to $9 billion from 2013. the auto maker will suspend dividend payments in exchange for the loans. suffering sluggish sales in europe and decided to close an assembly plant outside paris. other automakers are struggling in the european market while the euro zone credit crisis is hurting car sales. u.s.
CNBC
Oct 4, 2012 4:00am EDT
evening reception. and i know mario draghi met to talk about the situation. slovenia sadly is one of the countries very much on the one to watch list. the head of the euro group said the other day that the situation was very serious and slovenia might be on the brink of a bailout. the president denied that, he said he didn't think slovenia needed a bailout. he also didn't think spain needed a bailout, but it was early days yet. he was, however, very concerned by the persistent breakup talk that is wirling around the eurozone. and also by the fact that political efforts along the lines of banking supervision seem to have stalled. but listen to what he had to say. >> we don't like these discussions because we know from our experience that these discussions create an independent political dynamic and we see elements of this also in the media when one reads the needed i can't in english language, which is what everyone does now a days, we see a lot of rather cynical talk, rather unfireable talk about europe. not nimply well founded and not necessarily without leverage of prejudice against th
CNBC
Oct 4, 2012 6:00am EDT
spain to ask for aid. president draghi will be holding his normal news conference at 8:30 eastern time. so if you thought we didn't have enough to talk about today, just wait. in the meantime, in corporate headlines, 3m is dropping it effort to buy avery office. this decision comes about a month after regulators raised antitrust concerns over the proposed yield because they were worried about sticky notes. that's right, sticky notes. they were worried prices would go up for post-its. avery says it will continue to pursue a sale of the business. also watch shares of hewlett-packard today. this is the big one. the stock drop to go 59 year low after the company warned of an unexpectedly steep earnings slide in 2013. this is huge. revenue forecasts to fall in every business division except for software. ceo meg whitman blaming turnover for dragging out ph's turn around. she'll be joining our friends on "squawk on the street" later this morning. but this is a killer. hewlett-packard, dell, amd, all closing at multiyear lows. because of this guidance that comes through, hewlett-packard
FOX
Oct 5, 2012 4:00am PDT
stocks - especially emerging market stocks - rallied yesterday after ecb president mario draghi said the central bank is ready to buy sovereign debt once conditions are in place. buying bonds would ease borrowing costs for debt- ridden countries such as spain. one of the conditions for spain and others to get help is to first get assistance from other eurozone governments. 92 people have been arrested in a mass case of medicare fraud. fbi raids in 9 cities led to the arrest of doctors, nurses and other healthcare professionals. the crimes scammed an estimated $432 million from medicare. a majority of the fraud took place in miami. other cities hit include chicago, detroit, baton rouge, l.a., new york, tampa, dallas, and houston. those arrested are being accused of false billing. "these alleged actions represent an alarming, and unacceptable, nationwide trend of individuals attempting to exploit federal healthcare programs and, collectively, to steal billions in taxpayer dollars for personal gain." that was attorney general eric holder. holder calls the fraud case one of the largest m
KCSMMHZ
Oct 3, 2012 2:30pm PDT
from the european bailout fund. it hopes to get an explanation, perhaps, from mario draghi, the president of the ecb after the central bank will have met. >> let's take a closer look at some of the market members. teh dax close the day almost a quarter percent up. the euro stoxx 50 close to just a tad down at 2492. across the atlantic, the dow jones is going down. 13,000 four hundred 73 the number there and the euro is trading for $1.29. in belgium, a 24 hour strike by rail workers has paralyzed the train network. but the service between london and brussels had to be suspended. >> it has also disrupted the high-speed services between france and germany. workers are protesting plans to restructure belgium's state railway. the action is set to and within the hour. >> to iran where protesters in the capital have clashed with riot police. they are angered by the collapse of the country's currency. it plunged to record lows this week. >> demonstrators gathered and they shouted slogans against the president, mahmoud i am -- on a new job -- ' >> hundreds of protesters have gathered in
KCSMMHZ
Oct 24, 2012 2:30pm PDT
european central bank, mario draghi, probably expected german lawmakers to grill him on monetary policy, but he was surprised when asked to comment on the extension of greece's bailout. he said that he was unaware of such plans. >> the review is not finished yet. i understand progress has been made, but some parts need to be defined. i do not know anything more on that. i cannot comment on these rumors. >> in athens, the greek finance minister told parliament he had reached a deal with the country's international lenders on an extension to meet budget targets, but the german government denied that an agreement was made and insisted that euro group finance ministers would first have to examine a report by the troika's debt inspectors. >> the europe group will look of the proposals when they are presented. and not before or amid speculative reports that have been made up or contrived. we do not even have a date for that meeting, so there is nothing new. >> the social democrats chancellor candidate believes there is no alternative to keep increase in the eurozone. germany willhave to provi
CNBC
Oct 24, 2012 4:00am EDT
among oher things also about the dissent between the icb, between mario draghi, and the bunds bank. he said this is a healthy conversation, but it has to become transparent. we have to know exactly what is going on and maybe something positive can come out of this debate. this is what he had to say. >> i'm not quite sure whether in older times there hasn't been a debate between the central bank. the new thing is that they are much more communicative at the moment. and my recommendation to the monetary policymakers, keep things calmed down as well. a good decision always, and a good controversial discussion is always at the start of a good decision. but whether it shall be made up in the ecb council, i would usually recommend to do that discussion in the ecb council and come to a common ground. >> wouldn't we all like to be a fly on the wall in these discussions with par owe draghi, but afraid not. maybe we get something out of it after the debate. it's supposed to finish at 1600 our time, so hopefully on "closing bell" we can tell you a little bit more. >> we sort of have a sense how t
WHUT
Oct 18, 2012 7:00am EDT
the european central bank announcement earlier this year by mario draghi, saying that he would provide unlimited support to countries like spain, and there's a sense of, in this city at the moment even while events like that take place on the streets of athens. -- a sense of calm. >> in some papers there are tensions between france and germany, the alliance that we have always said drives the union. >> in has been the alliance that has always driven the union. on many issues, the french and germans of not always seen eye to eye. this has been finding a middle ground between them that has resulted in the compromise that europe then pushes ahead with. optimists are hoping the same capthappens in the case of the euro zone. we have seen this in angela merkel's comments and the french leader's comments. optimists would say within their differences there's always a compromise. but the danger, which is what i think you are getting at, is that, especially with the market pressure off at the moment, but there's no real push to resolve the differences, but they get into a political deadl
CNBC
Oct 8, 2012 4:00am EDT
spanish debt ever since draghi came out with the omt plan. ten year customer pretty much at that 5% yield mark. ten year bonds 1.47%. we will change the treasuries to gilts because of the holiday today. currency markets, and you are row dollar, 1.2971. we were at 1.30 on friday. so not big changes since then. dollar-yen still 78 ham. aussie dollar, 1.0164. and sterling-dollar, 1.6084. good news for kelly, she'll be back tomorrow as she brings fresh greenbacks into the country, she'll want to see 2tht exchange rate coming down. let's go to asia. >> thank you, ross. asian bourses retreated as investors hunkered down ahead of europe's meetings. september china services pmi surprised to the up side, but that didn't help the stock market. shanghai composite finished in the red after a week long holiday. some investors fear the revival of ipo approofts could further dilute liquidity. following the mainland's weakness, shares in hong kong ended five sessions of fwans. hsbc hong kong pmi dipped to a four month low. t fox con shares lost despite saying iphone 5 production is on track. japan
CNBC
Oct 4, 2012 9:00am EDT
have to wait for preconditions to be met. what we heard from draghi was the program is ready to go to as soon as the prerequisites are in place. the prerequisites are conditionality, as they always say, meaning there has to be a bailout, whether this is just enhanced credit line, whether that is a full-fledged bailout, but they're always talking about memorandum of understanding that a government has to sign with the euro group. from then it can basically ask funds from the esm, then the esm can buy in the primary market, and then the ecb can buy in the secondary market. now, all that doesn't sound as if it's going to happen overnight because we know very well that on the other side of the fence, lajoy is still saying we don't need a bailout. the spanish government knows they need some kind of funds, but they're trying to avoid something that's called bailout, and they're trying to avoid something that has a troika and the imf on board. whether or not they come up with some kind of bailout light that circumvents these little land mines remains to be seen. at the moment, we stand wh
CNBC
Oct 4, 2012 1:00pm EDT
with the comments coming from the ecb president mario draghi today coming from the bank of england, remaining with low interest rates for an extended period of time. also, the fact that we are looking at this rally coming back ahead of the non-farm pay rol rolls number we're going to get out tomorrow. that's something traders are watching very carefully. >> down here on the floor, something people are starting to talk much more about than they have in the past, the $2,000 level for gold. you mentioned we're closing in on $1,800. is that the next significant level for the market or is it below that level? >> $1,800 is a very significant level psychologically and also the fact that we hit that in november of last year, and then we did see gold prices kind of get a little bit weaker after that fact and backed off a bit. there's a lot of concern about whether or not gold will be able to close above the $1,800 level and remain there and sustain that level. a lot of it has to do with how much of this monetary easing is priced in not just by the feds but by other central banks around the
FOX Business
Oct 9, 2012 1:00pm EDT
major development to me mitigates the risk of a financial meltdown when mario draghi was able to negotiate the ability for the european central bank to buy spanish italian bonds in the secondary market so the precondition is the governments would have to go to the bailout -- the government, the e s m and say we need these funds in these other conditions. the heavy lifting has been done. this is why the euro zone stabilized. for ssain to say i don't need it or won't do it would upset the applecart. simply a matter of time. tracy: does the euro zone make it? people are calling for the breakup of the euro zone altogether. >> that was a legitimate question three months ago. i am a believer it would make it but i had to let met i had some my point is a lot of people say nothing fundamental happened. europe is still in recession and the union isn't a perfect union. three thing they're critical. mario draghi put his credibility and the euro zone is here to stay and they negotiate which was difficult negotiation, visibility to purchase bonds in the secondary market. they gave them the ba
CNBC
Oct 4, 2012 4:00pm EDT
mario draghi. the market held on to a double-digit move, even though it's off the best levels of the afternoon. still closing with a gain. as you can see the numbers here, the dow jones industrial average up more than 75 points on the session. 81 points higher at 13,576 at the close tonight. nasdaq picking up 14 points. the s&p 500 higher by 10.5 points. rally mode as the dow posting the largest gain in about three weeks today. is this a romney rally following that debate last night or more so on the heels of commentary out of europe? top strategists will be weighing in on what was behind today's moves. some on the street are speculating that the rally has to do with the strong showing by governor mitt romney last night in the first presidential debate of the 2012 election. let's get to courtney reagan. she's breaking down the stocks today that moved or could have been moved in one direction or another as a result of that. over to you. >> thank you, maria. mitt romney did need to revis revitalize his campaign. it looks like he did it last night. wall street took some notice today. co
CNBC
Oct 11, 2012 4:00am EDT
clear that draghi did mean what he said a few months ago about doing whatever it takes. there is a real commitment to the euro, people are talking about redenomination risk in class, in other words, the risk of the actual currency itself destructing or devofling. so i think that has given people a binary level of confidence. and then once through that, you're looking at liquidity and valuation. european stock market is quite cheap on a forward multiple basis. the economies here are in many cases better than people imagine that they would be. >> who specifically seems to be showing the most -- >> i think right now very much you're seeing global a investors look at european yield based stories. so dividend based stories. i think tail lengths and the direct line are the process of going public or have gone public. effectively yield based stories. but that's really the classic beginning of the cycle where you see transactions begin to happen that are probably quite conservative and defensive. even in the secondary side where people are placing book build, you've seen stocks trade up in the
CNBC
Oct 19, 2012 9:00am EDT
street crash 25 years of equal importance i think for you making money now is it's 2 weeks since draghi said he would do everything to save the euro. take a look at where we are today on the italian 10 year yields. this is important. did you see monday through thursday italy sold 18 billion yourios of debt, four year debt in order to basically fund itself to the end the year and it did that at a yield that was at a seven month low precisely because this put that we got from mario draghi seems so real and precisely because a line has been traun in the sand. i think that's the takeaway. that's my twaik from the week. however that's not exactly the news flow. we had a summit that's wrapped up in brussels and at that summit they decided there will be the ecb in charge of banking next year and as we came out of the summit angela merkel through a couple of sparks in the work by saying there may not be any capital injections until after the elections and countries like spain may not get debt off their balance sheets. none of that is good. the spanish prime minister came through and said he has
FOX Business
Oct 4, 2012 3:00pm EDT
three quarters of a percent. we got some comments from mario draghi. they are going to do something, another bond buying program of some sort. that eased concerns over in europe. also, by the way, we had a weaker u.s. dollar, stronger euro scenario on that. it was a big winning day for commodities. yesterday was a big loser. we opted a lot of yesterday's big losses on the day. gold certainly shining. hovering around 1800 out. now we will go out to jeff flock. he is on the far. jeff. >> we brought the cme out to the farm today. you know our old friend scott. what better place to have you guys been out at the horn harvest. as we watch it here, it is better than we thought. >> it is. there is a surprise by how many fields can give us so many bushels an acre. forty or 50%. jeff: give me a prediction. we just heard this farmer say, tom, where are our prices going to be? >> next year, let's start with what is going on right now. 960 area. we had a 40. we are kind of in congestion right now with this price range. we will go a lot higher next year. jeff: one of the factors is the moisture i
CNBC
Oct 31, 2012 4:00am EDT
that. the market believes the ecb. they believe draghi. i think the rise is unfavorable political parties. >> as you continue to make the point, this issue of debt still remains stubbornly at the heart of the european crisis. >> about 6% of the loan box was written off by banks. if f you look at the japanese bank, it's about 20%. the u.s. are 12 at the moment. the europeans are still about 3.9. i think there's an awful lot of debt which has got to be addressed and written off over time. i think balance sheets are still not strong enough. i think the european crisis, while off the radar at the moment, i think it still needs to be fixed in the longer term and we've got differential wage costs and i don't think those are being waged at all. i think it's going to be a problem which is still going to come up as a nightmare and recur for investors. >> the key is, if you're printing money, creating money, you change the dynamics of deleveraging. so we've got from a deflationary deleveraging, from a backstop that needs to be creating money, which means the deleveraging is long and drawn o
FOX Business
Oct 2, 2012 12:00am EDT
left your money in there. face it melissa. ecb, mario draghi said unlimited supply of dollars for euro banks. our fed, ben bernanke is obviously all-in. tepid super conservative bank of japan two weeks ago pumped a couple million dollars in their own market. bank of japan was out of the game until couple weeks ago. taking your money out of here is probably good idea is taking pictures of lindsay lohan in her hotel room at 6:00 in the morning. melissa: i like that joke. >> that is bad idea to do. melissa: if you're contrarian investor and see the individual investor get out in droves. a lot of time that is sign market is going up. i hate to say that, that is how sophisticated investors think, right? >> i agree. the typical plight of the individual investor is buy high and sell low. when you see people pouring money, like consumer confidence, melissa. when consumer confidence is low that's when you want to buy stuff because it will rebound. when it is high you totally sell. i think you take this information as a good sign for the market believe it or not going into what typically is good
FOX Business
Oct 4, 2012 11:00am EDT
ecb president draghi, all this playing a part and one big reason why they are talking about the rally in the stock market is the drop we are getting in the dollar, tends to boost a lot of those industrial names so we are seeing a stronger euro today. again also on the heels of comments from mario draghi the ecb president talking about starting another bond buying program. also looking at traders that are looking at a big board in the pit that shows some of the big industrial names, guys, like bank of america. obviously this is also a reaction to the debates last night. financials, bank of america up 3%. raw material stocks, alcoa, traders standing in the s&p pit here in chicago do watch those big dow industrial names, so much so that they have those quotes as you were just seeing right above the trading pits here in chicago, also by the way, they are watching the vix. this is the fear gauge. it is dropping today. showing a little bit more complacency this morning in the marketplace as this data rolls in. and by the way, remember that huge sell-off that we had in the energy complex yes
CNBC
Oct 23, 2012 1:00pm EDT
-term memory a month ago, unlimited pledge, ecb, mario draghi saying whatever it takes. we have forgotten that. >> you think there is an updraft that can help you here if you feather in the stocks that you've got? >> i do. >> thanks very much. check back in a bit. go to kayla for a market flash. >> watching shares of microstrategy, ticker nstr, it is micro -- rather, enterprise software company with about $1 billion in market cap. you can see sliding steeply, just about 7% on the day. the company's coo is departing and led bmo capital to downgrade the stock and slash the price target to 130 bucks from 150, trading well below that now at just about $112. guys, back to you. >> thank you. >>> the dow jones industrial averages off $215 points on the trading session. as the market selloff continues, weaker earnings renew results over the global economy, we will continue to follow it for you. day one, as you mentioned, ty, the two-day fed meet that ben bernanke likely might not stand for a third term. who better to talk about this than alan greenspan, former fed chair? he will join us
CNBC
Oct 23, 2012 12:00pm EDT
funding trade but the market is very focused on europe. but i think draghi put doubt into this one. put it this way, created an environment which spain now needs to move this is a really tough one to spain though. i think the market is running out of patience. >> three weeks. >> paul let me quickly say to you, if there is no carry trade curre currently, isn't there a problem for u.s. gases? >> in that environment, when there's nothing obvious the market will default to the dollar n that environment, if the market is running to the dollar, they have uncertainty about risks a is sets and global growth in general. yes, off problem with global asset he is. >> which way do you think the dollar will move on the election next week -- the week after next, forgive me? >> give the outcome, hard to position. i think the dollar rallies because we see u.s. treasury selloff. the ten year could go 2.25, 2.30 on a romney victory versus obama, i think we see the ten-year trend back to 165, 170, the dollar depreciates slightly. the risk is more for the dollar on a romney ving try. >> what is your favorite c
CNBC
Oct 25, 2012 12:00pm EDT
draghi, ecb president, ought to step forward and essentially talk down the euro. unfortunately, that's not been something he's shown any tendency to do, michelle. >> no. i think we're all shocked. it's really been incredible. there have been so many predictions for its full on demise, parity to the dollar. here we sit, 1.29, 1.30 forever. >> i think one of the keys is what smaghi also talked about. bringing down the ecb rate, now 75 basis points. they have 75 basis points to cut to get back to parity. that could be something that could weaken the euro, help the german economy, help some of the peripheral economies. very hard to dig your way out of a hole when your economy is declining the way it has been in a lot of europe. >> steve, real quick, it's joe. when you look at the situation right now in europe, it seems as though the banking union, it's really quality over speed as the germans have said. we're not getting the banking union as quick as the market wants. in essence the improvement in spanish yields are pushing that off. if the market begins to riot, how quickly can they get t
CNBC
Oct 5, 2012 12:00pm EDT
. messy day. >> yes. but i think ultimately what you have to take away from this week is when draghi came out and said don't mess with me. basically there's a coalescing of ideas in the eurozone now around the ont and esm where most of the european key leaders are in agreement on this system. so what you're seeing, the reason you're seeing so much confidence in the euro is they pretty much stop gapd the sovereign debt crisis for the time being. even bill gross wants to by short term italian debt. at this point you don't fight the ecb. euro has stabilized. greece is a problem. yes spain is still a problem. those will be negotiated in the next couple of weebs and will temper. >> hat are your levels on the euro? >> the euro at this point is pretty much at the top of its range. i don't want to trade it. what i do want to trade is dollar/yen. i like it a lot. employment report today was a "game change"er as far as dollar/yen goes. it's been one of the toughest currency trades. broken so many hearts of currency laws. but it's breaking out from its bottom. i want to be a buyer of dollar/yen
CNBC
Oct 9, 2012 4:00pm EDT
events. basically here were four events. it was the announcement of mario draghi on the european side. it was the chinese stimulus program, the german constitutional court, and qe-3. those four factors in just ten days drops the aluminum pricing $400. that's how quickly things can change. so if we were to worry about that every day, we would totally defocus the organization. so really, everybody knows what to do. we know that we want to move down on the cost curve on the upstream side. we know that we continue to innovate on the midstream and downstream side. that's what we need to do. that's what the focus has to be on. >> real quick, klaus, i know you have to jump to talk to analysts, but what guidance are you going to be giving on that call with analysts? we all know the most important thing is what you're looking for for the fourth quarter. what are you looking at? >> fourth quarter has not traditionally been as strong as the previous quarters. that's more the seasonality we see in there. the rest, we believe 6% demand growth, markets basically will continue to be in a supply
FOX Business
Oct 4, 2012 1:00pm EDT
trade is going back into the risk. mario draghi drew the line in the sand. we will do what we have to do to take the powerful stance. right now, i think, it is back on. that is why you are seeing oil. i believe, right now, the vix is a great position to increase as people start making risky investments. sandra: thank you for joining us. a portfolio manager. i will hand it back to you. traders have a lot on their plate in that big jobs report coming tomorrow. lori: i love hearing risks on. melissa: hewlett-packard's struggle continues after flooding to a nine year low. our next guest says it is not that outlook that has him worried. it is the strategy. angela zeno of s&p capital iq joins us now. do they have a strategy? >> they do have, they have laid out some sort of strategy. unfortunately, the key take away we got yesterday was that this will be a longer than expected turnaround and it will be painful. when you kind of look at it, we are looking at three-five years recovery, if you get a recovery at all. there are three ager issues at hand when it comes to hp, at least an hour yo
FOX Business
Oct 5, 2012 9:20am EDT
. >> i guess wall street has loved every numbers and mario draghi said everything would be good in europe also. we are ahead of ourselves. let's step back. we have an election. that is the most important thing that will affect our market. personally, i am positive the stock market, but not at these levels -- charles: you brought up the election. the two candidates. which one, in your mind, without the best effect for the u.s. economy? >> romney, by far. no question about it. there is more clarity. he has a program. he does not just talk about generalities. we need a change big time in this country. now is the time to do it. charles: obama supporters say the market is up 100% because of him. thanks a lot. have a great weekend. many of you love stuart might take. the too short to the interview on time. put on a clean pair of pants. do not show your underwear. that goes for young women also. baseball caps, by the way, come off indoors. [laughter] charles: some practical advice did the youth unemployment 23.7%. that is for 16-19 years old. paul, i have to tell you something, i look at these n
CNBC
Oct 9, 2012 12:00pm EDT
are potential risks out there in the market. a spanish bailout is inevitable. draghi came out and said he would do anything to support the euro and this bond buying response and fine, that's it, the problem is solved and it really sirnt. the bailout is conditional, conditional and spain requesting a bailout and sticking to certain reform packages and the longer things go on the tougher the terms could be. >> do you have a target in your own mind where you see the euro dollar? i don't know, by the end of the year? . >> it has been incredibly resill yant and moving against rationale, and that is why we're actually kind of staying away from making those calls at the moment and instead looking at potentially the equity markets and maybe going back into european equities and taking off u.s. equities because we think that trade may have been a bit over done. that's the way we're the way we enacting. >> interesting. you can catch "money in motion," fridayss, 5:30 p.m., only on cnbc. >>> coming up, a majormaker of heart valves cuts its revenue forecast. >>> and followinging today's pops a
CNBC
Oct 16, 2012 3:00pm EDT
here at stanford. i think the general sense is mario draghi, the head of the ecb, has offered a pathway and bought some time. but now the key players have to act. they have to act on the reforms on their fiscal and structural side, but also in particular, spain is likely going to need to face this step. this is something that under their democratic process only they can decide. there's sensitivity with others in germany. frankly, one of the lessons in the european crisis over the past two or three years is if you get a breather and then you wait too long, the markets or something may hit you again. i hope that they act to stabilize. >> you know, on the one hand, it feels like the corporate sector has not been this strong in a long time. you're talking about lean and mean companies, huge cash levels, $3.6 trillion by some estimates. yet, they're sitting on the cash and we seem to be stuck in neutral. so hwill you characterize the financial system as well as the economy in the united states right now? >> well, i think actually going back to the citigroup story, i think there's a l
CNBC
Oct 5, 2012 4:00am EDT
has to survive, though. so there will be no -- the loaded gun will rest on mr. draghi's desk there. >> okay. good to see you today. thanks. have a great weekend and a good evening there. head of research at the orient financial markets. >>> turn our attention to the middle east. european and u.s. authorities are stepping up sanctions against iran. media reports suggest a ban on exports of national gas as well as stricter on the bank. also also the possibility of blocking all transactions on imports and exports via rapiran banking system. joining us in a moment will be henry smith, and with me in the studio, analyst, thanks so much for coming in. how signature is this ramping up of sanctions? >> we have two crises in iran. one is the currency crisis and another is really an check one. domestic one because of ahmadinejad, the whole system is not working. so the two cries ceases are feen to each other. inflation is above 25%. deposits are put at 22. so there's a problem of people moving assets in to dollars and into gold. but sanctions are working. they are affecting the economy and w
CNBC
Oct 1, 2012 4:00am EDT
be, the more likely it is that we will get early action. mr. draghi is likely to sit on his hands at the meeting this week. he'll say i i want to see results before i know what to do next, but markets will look through that to anticipate that he will take action. >> okay. so if you take a look at the dax up 12% in the quarter, up seven of the past nine months. i mean, those metrics, you would have been very happy at the beginning of the year. why wouldn't you if you had been on that, why wouldn't you just say that's it? >> because the corporate earnings numbers which clearly are deteriorating generally speaking and there's how much you pay for current and perspective earnings. valuations still remain relatively modest, but one should be prepared to pay to participate in equities based on the likely scenario. valuations are still way too cheap. >> really? >> you raise your eyebrows. have a look at the al valvaluat equities and you have to ask yourself the question am i right in predicting negative bond yields. if i am, it's a bonanza today. >> so key is bond yields. >> i think that's
FOX Business
Oct 12, 2012 11:00am EDT
nothing about it. dagen: jack routes's mario draghi and karl edwards. in general racing is not profitable. charlie: it is a break-even operation. liverpool -- the question lot of people say he is into soccer and has to devote a lot of time. he owns the new england sports network. that is usually practical and the finance these operations going forward. the boston red sox are going through tremendous change is a nice way of putting it. fired their manager, got rid of $250 million worth of [talking over each other] charlie: whatever. i am just giving you the facts of what i understand are the facts and he is denying it. last time we did this story it was the shot heard round world. [talking over each other] charlie: we told viewers and told everybody they were point blank denying that. they're denying it again. then you have to ask yourself why you doing the story? people who told us are in a position to know. we discussed it with management. we go with it? it is an interesting story. take it for what it is worth. it does say something about baseball right now, with certain teams
CNBC
Oct 22, 2012 4:00am EDT
basically just jawboning has gotten the yields to where they are and mr. draghi and he promise to give unlimited support has done the trick no now. but pretty soon there's going to have to be a check written and that's when the rubber meets the road and we'll find out all about whether sentiment can be sustained. >> so what do you do? what are your technicals telling you? buying, selling, holding? >> our technicals are telling us that we've talked, that we're rolling over, and that the back side of those rollovers traditionally have been very, very volatile and very steep potential drops in the markets. if we go back to may of 2010, if we go back to august of 2011, we saw the same meandering slow rising pattern. and once that turns over and starts chopping on the other side, look out below. could you have a very significant impact and risk asset prices. and i expect that to happen. this week is one of the most devastating weeks historically if we go back to 1915. and i pay attention to those long cycle issues and those historical replications of patterns because they're real and seem t
FOX Business
Oct 24, 2012 1:00pm EDT
saying don't worry about inflation. and you have this compadre over in europe, mario draghi in europe saying listen guys we need to get the bond buying going because i'm still worried about the inflation. that is the mind set for them. europe is saying the weakness in the market because europe can't get their act together. the fed is all in. europe is on the sidelines. i think if we got a clear signal out of europe on board, we would get the sugar high rally but right now the fed can only do what they can do. tracy: when gas prices were going up said inflation was contained of the now we're seeing oil prices dropping we see inflation down there a little confusing. ashley: with all this money flying around inflation is not an issue. fingers crossed. we shall see. thanks to nicole petallides, phil flynn, steven, doug cote and mike crofton. thanks for being here on fed day. tracy: good stuff. that was the big change in the language they saw little inflation in their big ol' limousines as phil points out. coming up we'll have much more on the fed's statement and market reaction. ashley: p
CNBC
Oct 16, 2012 4:00am EDT
. bernanke -- mr. draghi has the markets back and they won't let the market decline and i don't think that's real. i think that's just a myth at this point. >> okay. we'll come back and talk about that play in just t a second. >>> meanwhile the bell will sound tonight for round two of the presidential debates at hof have a university, this morning. it's a town hall format with the men getting questions on domestic and foreign policy from a group of around 80 you beunde voters. coverage of the debate starts at 7:00 and will conclude at 11:00. >> want to quickly bring you this news, as well. we've already seen spain earlier doing a bit of a t-bill auction. now greece coming to market, as well. they've sold about 1.6 billion euros of 13 week bills. the yield 4.24%, down by about six or seven basis points from the last time they went to market. bid to cover ratio down, as well. 1.9% and for what it's worse, that sale did include a 30% tranche that was noncompetitive. not a bad return for a 13 week period of time. but that doesn't explain why there weren't as many investors interested. >>>
CNBC
Oct 18, 2012 4:00am EDT
it's a tricky one to pull off. and what's interesting is she has backed draghi on his bond buying plans. and president obama doesn't want any upsets that might affect wall street or the u.s. economy. i think the longer term future of greece is -- they're in the wrong currency and whatever happens, there has to be a restructuring of bad debt again because it's just simply -- >> very briefly, dollar-yen, fresh record high, going to keep -- >> it's been interesting developments as regards the renminbi. whether that's just ahead of the u.s. presidential election remains to be seen. i think that if the chinese economy is stabilizing, the last thing they want is a stronger currency that might make export performance even worse than it has been. >> neal, thank you very much for joining us today. in corporate news, nestle shares have slipped after it missed forecast growth numbers. carolyn's been looking at market reaction for us. what are investors saying? >> well, the market reaction is pretty negative. nestle has a heavy weighting of more than 20%. but numbers absolutely disappointing,
CNBC
Oct 15, 2012 4:00am EDT
contained. >> i really like the draghi plan, but that's one of the in-consist espn is is. you announce the spain, you remove the pressure. either he et cetera, et cetera. if you look at the numbers, spain probably has enough cash until the end of the year. if you look at the target position or the imbalance position, you're far, far away from the level where ireland was when they were forced to request help. so to answer your question, i think spain will not ask for help in the immediate future so we will still be in limbo until the end of the year probably. >> thanks very much to stopping by this morning. want it on bring you back to the conference ongoing between softbank and sprint. dan husbasey will remain ceo. it's kind of like new coke. new sprint. >> you can't call it sprint light, though, because it's got heavier. because they'll go out and buy more -- >> is that a mobile growth thing? >> full fat sprint. >> we'll keep watching the conference. >> yeah, i don't know what i'm saying. it's monday. i haven't recovered from the weekend yet. meanwhile, an austrian daredevil has becom
CNBC
Oct 23, 2012 4:00am EDT
position dwa and to implement it immediately. >> ever since draghi announced this program, i have the feeling whether you talk to finance ministers et cetera in you that politicians kind of sit back a little bit and say, okay, now things are not so urgent, the markets are slightly on the mend, now we can take our time. is there the danger in there again not only in a fiscal policy not on the mend, but that the ecb has also helped take the pressure off politicians to simply get their act together and that in the end the central bank again who is left to fix the damage? >> i think that is an important point. however, this point is linked to the conditionality. the ecb would like to limit this negative impact or this moral hazard element. would like to limit it in arguing we need conditions and conditions have to be met. however, again, it is the red lines have been crossed as far as monetary policy is concerned. the ecb is prepared to continue to operate in the fiscal field. and we have seen time and again when the ecb announced new measures that the enthusiasm for reform faded away
CNBC
Oct 31, 2012 9:00am EDT
drawingi el draghi elbow. you have to remember the importance of apple. since that is -- since it was pointed out that they got full in that position, so you probably get a number of people with a 13% position, i wouldn't be surprised if they're dumping some of those shares. lumber is up, not a surprise there. that's where a lot of hedge funds are trying to play. personally i've been through a lot of things, i need to point out what we have in long island where i am, is a disaster of it is a disaster, it's almost impossible to put into words. but if you're an investor, you have to focus on things, so everybody is focussed on home, depot, lowe's, in terms of the home depot versus lowe ease, because people always like to play that game. i always think about the dividends. half the return ofck market, if you look at a screen of the companies with the longest history of different payment growth, courtesy of morgan stanley, coincidentally lowe's is number two, long term with a 15-year dividend growth. the dividend yield right now about 2%, so it is important to remember home depot does
CNBC
Oct 25, 2012 9:00am EDT
. draghi talking about bond buying. here is the fed coming out and talking about qe-3. does the fed and ecb affect the stock market? can anybody read here? there you see. carl, the important thing is we're right back where we were before the ecb and before the fed started making some comments. the question is does the fed and ecb affect the stock market? they do certainly have an influence. they're certainly a little higher. we're right back down now as those revenue numbers have come cowan. >> this rumor fitch was going to down raid the u.s., reuters contacted the u.s. ratings agency. they said we're sticking by our time line, late 2013. but the rumor lingers. >> that's why you call the company. pretty plain to me, they're into 2013 before they review down. >> dow down 22. >>> kudlow caucus coming to post 9 again. larry kudlow is here. we'll talkle all thipgs fed and the economy. >>> iac/interactive reeling from confusion about the third quarter. ceo will be with us live to set the record straight once and for all when we come back. when you take a closer look... ...at the best schools in
CSPAN
Oct 9, 2012 7:00am EDT
money. mario draghi says such a bank resolution fund is the way to avoid the kind of disruption that occurred after the failure of u.s. investment bank lehman brothers in 2008. turning to campaign 2012, danville, kentucky, is getting ready for a thrill. it's the vice-presidential debate this thursday between joe biden and paul ryan. the city has repaved streets, planted flowers, and directed new signs. one bar is serving cocktails named for the vice president and his rival. c-span is covering the vice- presidential debate thursday night and are preview program begins a 7:00 p.m. eastern with the debate starting at 9:00. those are the latest headlines on c-span radio. >> look at what president obama did on the budget. nothing except borrow and spend. as a result of his abdication of leadership, as a result of seeing the most predictable economic crisis in our country's history and not fixing it, our credit rating was downgraded for the first time in our history. >> we laid out a $4 trillion debt reduction plan over the next 10 years. we have already passed $1 trillion. ladies and gent
CNBC
Oct 22, 2012 6:00am EDT
year, so mario draghi's going the other way and for now his three-step is working. >> scott the market is always forward-looking, several months down the road. at this point it's hard to see past november and january. you have to get to the election and the fiscal cliff. do you bet we'll have solutions to both of those and if that's the case, what do you think of the market? >> i think we'll have a solution to the fiscal cliff as far as europe is concerned. the incremental nature of the news we got today from spain anyway i think indicates that we're not anywhere close to a solution as far as europe is concerned, and i agree with michael to a certain degree but i do think that a lot of the weaks than we see now is not past news, it's forward-looking and the cat news today much of it was particularly disappointing. they've forecast out to as far out as 2015, and they're not looking really at great results there. they think that their growth there is going to slow down, it's going to essentially stop from a situation a couple of years ago where they had outstanding growth and that
CNBC
Oct 9, 2012 9:00am EDT
just keep thinking, our guy makes a lot of sense, let's just go with him. but no, draghi is kind of ignored over there. he's very smart. >> greece has 8 million people. it's already defaulted. if you have already suffered, let's focus on spain. >> spain says tim cook could write a $60 billion check. that's what they need. maybe it would make up for the maps problem. >> maybe it would. >> let's check for spain. get rid of the world crisis. >> what do you get if you write a $60 billion check as collateral? what do you get? >> it would turn around our view of apple. suddenly maybe that's how he would get away with the problem of the 50-day moving average. solve the technical problem by writing the $60 billion check. everybody goes home happily and apple reverses itself. >> i see. >> i think the shareholders could be a little distressed but you never know. >> what would they snow in. >> maybe that's a good return on the $60 billion. >> that's a huge wire transfer, i'll tell you that. >> he's making nothing on that return. he gives them $60 billion. he makes 7%. maybe get a hedge at 2%.
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